Sundar PichaiSundar Pichai earned $164M in 2023
H

Ara Hovnanian

Founder and Ex-CEO of Hovnanian Enterprises, Inc.

Education

B.S. in Business Administration from the University of Maryland

Field of Expertise

Business & Management

Born

December 21, 1964 - 60 years ago

Economy Sector

Consumer Cyclical

Tenure

13 years 5 months (Jan 2005 - Jun 2018)

Previous Experience

Founder of Hovnanian Enterprises, Inc.

Ara Hovnanian is the CEO and Chairman of Hovnanian Enterprises, Inc., one of the largest homebuilders in the U.S. He took over the role of CEO in 1997 after being in various leadership positions since 1981 when he was first...

Year

2018

Total Compensation

$5.41M

Salary

$1.23M

Board Justification

The compensation philosophy emphasizes performance-based pay to align the interests of executives with those of shareholders, focusing on long-term value creation and retention strategies.

Bonus

$3.00M

Board Justification

The annual bonus was based on achieving targeted levels of Company EBIT, liquidity balances, total revenue, and alternative capital raises for fiscal 2018.

Other

$459.34K

Board Justification

Other compensation includes contributions to the executive deferred compensation plan and other benefits.

Restricted Stock

$720.70K(353.97K Class B Common Stock)

Board Justification

The stock awards that vested in 2018 included shares from MSU and LTIP awards, totaling 353,970 shares.

Performance Metrics

The performance metrics for determining the CEO's compensation included EBIT, liquidity balances, total revenue, and alternative capital raises.